If the annual income from the investments is $ 6340 , how much was invested in each account?

Question

Maricopa's Success scholarship fund receives a gift of $ 105000. The money is invested in stocks, bonds, and CDs. CDs pay 5 % interest, bonds pay 5.9 % interest, and stocks pay 8.2 % interest. Maricopa Success invests $ 15000 more in bonds than in CDs. If the annual income from the investments is $ 6340 , how much was invested in each account?

Maricopa Success invested $   in stocks.

Maricopa Success invested $   in bonds.

Maricopa Success invested $   in CDs.

Answer 1

CDs $35,000

Bonds: $50,000

Stocks: $20,000

S+B+C = 105

B=15+C

S=90-2C using units of $1,000

.082(90-2C) + .059(15+C) + .05C = 6.34

.055C = 1.925

C =35

B=35+15

S=90-2(35)